Bascom Group

The Bascom Group, an Irvine equity fund, said Tuesday it has purchased a 400-unit apartment complex in Mission Viejo from Polygon Management for $21.2 million. Bascom bought the Hillpointe Apartments off Marguerite Parkway to help meet the high demand for rentals, as well as to own its first complex in south Orange County, where rents are highest, said Scott McClave, Bascom's acquisitions director.

The Bascom Group, an Irvine equity fund, said Tuesday it has purchased a 400-unit apartment complex in Mission Viejo from Polygon Management for $21.2 million. Bascom bought the Hillpointe Apartments off Marguerite Parkway to help meet the high demand for rentals, as well as to own its first complex in south Orange County, where rents are highest, said Scott McClave, Bascom's acquisitions director.

* Los Angeles County has signed a 10-year, $12-million lease for 60,804 square feet of office space at 2325 Crenshaw Blvd. in Torrance, where it will occupy the entire building. Alan Pyenson of Transpacific Development Co., along with Terry Reitz and Jim Biondi of Grubb & Ellis Co., represented the landlord, 2325 PDA, an affiliate of Transpacific. The county was represented by Vince Licato of Licato Realty & Associates.

Bascom Group, an Irvine-based investment partnership, acquired the 152-unit Parkview Village Apartments at 20707 Anza Ave. in Torrance for $12 million from Great Anza Investments Inc., according to Scott McClave, acquisitions manager for Bascom. Baron Jones of Grubb & Ellis represented the buyer. The seller was represented by Dee Chang of Dee's Realty. McClave said Bascom will spend $2.8 million on renovations and remodeling of the property. Bascom Group acquired the 160-unit Cypress Grove Apartments at 9950 Juanita St. in Cypress for $9.4 million from Cypress Grove Partnership.

The Southern California Industrial Fund has completed a $35-million acquisition of an industrial portfolio in Commerce and Vernon. The purchase comprises eight buildings totaling 1,017,000 square feet. SCIF is a joint venture between the Magellan Group in Century City and the Bascom Group in Irvine. David Hasbrouck of Cushman & Wakefield represented SCIF and seller Harvey Investments/Warschaw Properties in the transaction.

Granite Investment Group of Irvine purchased the 99-unit Cynthia Circle Apartments at 11050 Cynthia Circle in Garden Grove from Irvine-based Bascom Group for $11.2 million. Bruce Furniss, David Casper, Michael Shustak and John Nguyen of Grubb & Ellis represented the buyer and the seller. The Larkey Trust bought a 47,404-square-foot shopping center at the northwest corner of Willow Street and Long Beach Boulevard in Long Beach from CTA Wrigley for $7.5 million.

Lend Lease Real Estate Investors of San Francisco acquired the 245-unit Rancho Valencia Apartments at 9155 Central Ave. in Garden Grove for $23.2 million from Bascom Group of Irvine. Baron Jones, Jerry Giglio, William DuBrowa and Arlan Murata of Grubb & Ellis represented the buyer and the seller. San Marcos Plaza LLC of Irvine bought the 160,567-square-foot San Marcos Plaza at 330-340 Rancheros Drive in San Marcos for almost $8.5 million from Island Realty of La Jolla.